Audit watchdog nears China deal
The top US audit watchdog said yesterday that he believes the US and China are close to striking a deal that would allow Washington to inspect the audit work of accounting firms in China. “I am also optimistic that we will be able, during 2014, to sign a long-sought agreement,” said Jim Doty, the chairman of the Public Company Accounting Oversight Board. Doty is testifying to US securities regulators on his board’s budget and policy for 2014.